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Pakistan being an Islamic country tends to follow Islamic Inheritance Jurisprudence particularly with regards to the matters of inheritance. According to Sharia, the legal heirs that are blood relations have a right to inherit from the property of the ancestor or a relative after their death. Chapter four of the Quran, called Surah An-Nisa ...
The Punjab Land Record Authority (PLRA) was created in 2017 by the government of Punjab, Pakistan. It was set up to provide citizens with a secure, reliable and accurate land record system. The PLRA was created to address the growing need for accurate and up-to-date land ownership records in the province.
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
A deed is a legal document that is signed and delivered, especially concerning the ownership of property or legal rights. Specifically, in common law, a deed is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions, sealed.
Expropriation is the seizure of private property by a public agency for a purpose deemed to be in the public interest. It may also be used as a penalty for criminal proceedings. [ 13 ] Expropriation differs from eminent domain in that the property owner is not compensated for the seized property.
Real estate transfer tax can be appointed by the authorities of state, county or commune when a real estate property is being transferred within a certain jurisdiction. Subjected to the tax is usually the act of transfer of legal deeds, certificates and titles to a property that are being shifted between the seller and the buyer.
Property law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual property . [ 1 ]
To assist the real-estate sector, the Government of Pakistan announced a reduction in interest rates on mortgage loans in 2012. [1] [2] In 2017, the housing gap in Punjab, one of the largest provinces of Pakistan, was around 2.3 million units, this figure is expected to reach the figure of 11.3 million units by the end of 2047. [3]